EP 18: How To Understand & Handling the Fiscal Impact of Life's Biggest Changes (Marriage, Divorce, Children)

Common Sense Millionaire

What if tying the knot could knot up your finances, too?
This episode of Common Sense Millionaire peels back the layers on how life-altering events such as marriage and divorce, could impact your finances. We’re taking a deep dive into the potential tax implications of that walk down the aisle - think merging credit files, determining to file taxes jointly or individually, and even the tax burdens you might unknowingly be stepping into with your partner. And don't worry, I've got our same-sex couples covered too.
I'll also spotlight an essential safety net: innocent spouse relief. It's a lifeline for those blindsided by their partner’s financial fiascos.
Switching lanes, we're going to dissect the financial fallout from divorce. Enlisting a tax specialist or attorney when navigating separation is crucial, especially when it involves determining child allocation for tax purposes. It's a complex path, but I'm going to be here to guide you through it without adding to your financial strain.
I trust you'll walk away with valuable insights to help you brave life's financial storms. And remember, I'm always here to tap into questions or concerns, so don't hesitate to get in touch.

Thank you for listening to The Millionaire Mindset Podcast with George Dines.
To connect with George visit www.georgedines.com
To Schedule a call with George visit: https://georgedines.com/contact/

فصل ها

1. EP 18: How To Understand & Handling the Fiscal Impact of Life's Biggest Changes (Marriage, Divorce, Children) (00:00:00)

2. Tax Planning for Life Changes (00:00:02)

3. Impact of Taxes on Divorcing Families (00:08:58)